A good credit score range is more than just a list of numbers lined up. Where your credit score falls determines where and how simply you can get a loan, as well as the interest you will be charged when you do receive one. A good credit score means you have paid your previous loans off or are in the process of paying them on time. This translates into better loan opportunities and low interest rates, making it easier to obtain credit for purchases you both need and want.

• What is a Good Credit Score Range?

Credit scores range from 300 to 850, where the higher you range, the better you score. Anything less than 620 is dangerous grounds to be in, while anything about 760 puts in you a positive light with just about any lender. Of course, a perfect score would be nice. But a score in the 700s still keeps you in good standing for lower interest rates. On the flip side, while bad credit slinks around in the low 600s, there is not really a distinct cutoff for a credit a lender will not accept. While some lenders could refuse you due to your poor credit rating, others may accept you. Your interest rates will be significantly high, though.

• Effects of Being in a Good Credit Score Range

Exactly how credit scores are formulated is a secret only the Fair Isaac Corporation knows—and is not sharing. However, we do know that payment history plays the largest role in making up your credit score. Thirty-five percent, in fact.
Good Credit Score Range
Therefore, the best way to get—or keep—a good credit score range is to make sure you pay your bills. And on time. A no-brainer, almost too-simple solution to improve or hang on to your credit score. However, it takes discipline and determination to stay on top of credit payments.

Another way to keep your credit scores in the 700-range is to work on keeping your debts low in relation to your available credit. Simply because you have a several-thousand dollar credit limit does not mean you can max it out, especially if you know you will have a hard time paying it off. Financial advisers suggest keeping your bill below twenty-five percent of your actual limit, therefore keeping a manageable debt, as well as showing potential lenders that you are not desperately riding on your credit cards.


Be sure to always double check your credit report with your records. And keep good records, to begin with. Reporting agencies are not fallible, and, in fact, are known to make mistakes often. Names can be confused, especially if you have a common name, identity theft can occur, or even miscalculations or additional records can be mistakenly transferred to your account. Errors which could significantly lower your credit score and keep you out of a good credit score range.